Wall Street poised for gains following markets' worst week in almost 18 months
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Markets on Wall Street are set to rebound after the worst trading week in 18 months; S&P 500 and Dow Jones futures rose 0.7% in premarket trading; Boeing shares increased by 4.1% after reaching a new contract agreement with the International Association of Machinists and Aerospace Workers for 33,000 workers, providing a 25% pay raise over four years; Big Lots filed for Chapter 11 bankruptcy protection and plans to sell to Nexus Capital Management, with shares jumping over 9% before trading was suspended; Apple to unveil iPhone 16, the first model tailored for AI, with shares unchanged; U.S. inflation report due this week ahead of Federal Reserve's policy meeting, with expectations for the first interest rate cut in over four years; Japan's GDP grew by 2.9% in Q2, below expectations; Chinese markets faced losses due to disappointing inflation data; U.S. crude rose to $68.58 a barrel; S&P 500 dropped 1.7% to 5,408.42 on Friday, marking its worst week since March 2023.

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